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神州长城(000018)公告正文

ST中冠B:2011年第一季度报告全文(英文版)

公告日期:2011-04-29

                                                                  深圳中冠纺织印染股份有限公司 2011 年第一季度季度报告全文




                    Shenzhen Victor Onward Textile Industrial Co., Ltd.



                                      The First Quarterly Report 2011

§1 Important Notice


1.1 The Board of Directors of the Company hereby guarantees that there are no misstatement,
    misleading representation or important omissions in this report and shall assume joint and
    several liability for the authenticity, accuracy and completeness of the contents hereof.
1.2 The financial report of the Company in this quarterly Report period has not been audited.

1.3.Mr. Hu Yongfeng, board chairman and General Manager of the Company, Mr.Zhang Jinliang,

Deputy General Manager of the Company, Mr. Ren Chengzheng , Manager of Financial Dept

represent and warrant the financial report in this quarterly report is true and complete.
§2 Basic Information

2.1 Highlights of Accounting Data and Financial Indicators
                                                                                                                            Unit:RMB
                                                                                    At the period-end of last
                                                      At the period-end of this                                   Increase /decrease(%)
                                                                                              year
              Total assets(RMB)                                190,217,436.00                195,732,419.00                      -2.82%
Owner’s equity attributable to the shareholders of
                                                                 137,144,668.00                142,929,499.00                      -4.05%
         the listed company (RMB)
            Stock capital(Shares)                              169,142,356.00                169,142,356.00                      0.00%
     Net assets per share attributable to the
      shareholders of the listed company                                    0.81                          0.85                     -4.71%
               (RMB/shares)
                                                                                   Amount of the same period
                                                      Amount of current period                               Increase /decrease(%)
                                                                                         in last year
            Total turnover(RMB)                                    3,169,625.00                  1,924,354.00                     64.71%
Net profit attributable to owners of parent
                                                                   -4,143,863.00                 -3,524,663.00                    17.57%
              company(RMB)
   Net cash flow arising from operating
                                                                     671,682.00                   -639,091.00                   -205.10%
             activities(RMB)
   Net cash flow per share arising from
                                                                            0.00                          0.00                     0.00%
    operating activities(RMB/share)
   Basic earnings per share(RMB/share)                                     -0.02                          -0.02                    0.00%




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                                                                 深圳中冠纺织印染股份有限公司 2011 年第一季度季度报告全文



  Diluted earnings per share(RMB/share)                                    -0.02                          -0.02                      0.00%

Weighted average return on equity(%)                                   -2.94%                          2.80%                       -5.74%
    Weighted average return on equity after
                                                                         -2.95%                          2.64%                       -5.59%
 deducting non-recurring gains and losses(%)


Items of non-current gains and losses

√ applicable □ not applicable

                                                                                                                           Unit:RMB
                Non-recurring gain and loss items                                     Amount                    Notes(If applicable)
Other non-operating income and expense other than above-mentioned                                    8,466.00
                                 Total                                                               8,466.00              -


2.2 Top 10 shareholders and top 10 holders of unconditional shares

                                                                               Unit:Shares
Total number of shareholders at the end of report
                                                                                                                                     11,832
                    period
                   Particulars about the shares held by the top ten tradable shareholders with unrestricted conditions
                                                        Amount of tradable shares with
            Full name of shareholder                unrestricted conditions held at the end of                Type of shares
                                                                  report period
Union Holdings Co., Ltd.                                                           43,141,032 RMB common shares
                                                                                                 Foreign shares placed in domestic
STYLE-SUCCESS LIMITED                                                              24,466,029
                                                                                                 exchange
Shenzhen Textile (Group)Holdings Ltd                                                9,543,394 RMB common shares
                                                                                                 Foreign shares placed in domestic
Rich Crown Investment Co., Ltd.                                                     6,114,556
                                                                                                 exchange
Union Development Group Co., Ltd.                                                   5,821,089 RMB common shares
                                                                                                 Foreign shares placed in domestic
BOCI SECURITIES LIMITED                                                             1,942,667
                                                                                                 exchange
                                                                                                 Foreign shares placed in domestic
Shing Ying Chieh                                                                    1,618,982
                                                                                                 exchange
GUOTAI JUNAN SECURITIES(HONGKONG)                                                                Foreign shares placed in domestic
                                                                                    1,429,803
LIMITED                                                                                          exchange
Liuzhou Jiali Real estate Development Co., ltd.                                     1,393,700 RMB common shares
Liuzhou Ruiheng Mechanical& Electrical Co.,
                                                                                      770,000 RMB common shares
Ltd.


§3 Significant Events

3.1 Particular about large-margin change of main accounting statement item and financial index and its
reason.

√ applicable □ not applicable

1.Analysis of the reason for big change of the items of balance sheet of the Company as of the end of the report period.
                                                                  Unit: RMB




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                                                                 深圳中冠纺织印染股份有限公司 2011 年第一季度季度报告全文


Items                 March 31,2011           December 31,2010          Amount of increased /        Proportion increased
                                                                             Decreased                     Decreased
Long term share
equity investment           72,300,494              77,199,476          -4,898,982                       -6.35%
Long term share
equity investment decreased                                                  4.89 million            -6.35%
 Mainly due to the loss to the earnings of Zhejiang Union Hangzhou Bay Ventures Co., Ltd., an affiliated Company.
Mainly due to the key business of the Company was not recovered, the earnings of Zhejiang Union
Hangzhou Bay Ventures Co., Ltd., an affiliated company, decreased by 47.20% year on year to RMB
45.05 million and Shenzhen East Asia Victor Onward Textile Printing and Dyeing Co., Ltd.,

    2.Analysis of the reason for big change of the items of profit statement as of the end of the report period.
n the period from January 2011 to March 2011,the company earned operating income of RMB 3.16 million on accumulative basis,
which Increased by RMB 1.24 million and 64.71% year on year. Net profit is RMB -4.15 million. compare to the data last year same
period, which loss increased by RMB 0.61 million and 17.30%.
⑴Analysis of reason for increase of operating income:
  Rental income has increased.
  ⑵The main reason for increased of amount of loss:
  Mainly due to the loss to the earnings of Zhejiang Union Hangzhou Bay Ventures Co., Ltd., an affiliated Company..
  3.Analysis of the reason for big change of the items of cash flow statement of the Company in the report period.
Unit: RMB

        Items                          This period      Same period of last year        Amount of                 Proportion
                                                                                         increased/decreased      Increased/ decreased
Net cash flows arising form
Operating activities                   671,682            -639,091                        1,310,773               -205.10%
Net cash flows from investing activities -32,981            -96,282                       63,301                    -65.75%
Net cash flows from financing activities      0                  0                           0
The influence of change in exchange rate
On cash and cash equivalents                -293,053           -47,028                      -246,025              523.15%
Net increase of cash and cash equivalents 345,648             -782,401                       1,128,049             -144.18%
 ⑴At the end of the report period, net increase in cash and cash equivalents increased by RMB 1.3 million year on year, Mainly due to
the rental income has increased in the report period;
 ⑵In the report period, Net cash flows from investing activities increased by RMB 60,000 year on year;
⑶At the end of the report period, There were no net cash flows from financing activities in the report period and the same period of
previous year;
⑷At the end of the report period, the influence of change in exchange rate on cash and cash equivalents decreased by RMB 60,000
year on year;, Mainly due to RMB and HKD exchange Rate fluctuations;
⑸At the end of the report period, net increase in cash and cash equivalents increased by RMB 1.12 million year on year.


3.2 The progress of significant events and influence, as well as the analysis and explanation on resolving proposal.

3.2.1 Non-standard Opinion

√ applicable □ not applicable

I. The special statement of the board of directors of the Company on the matters involved in the Unqualified Auditor's Report for 2010
with Highlighted Paragraphs
  (I) Basic information
       Shine Wing Certified Public Accountants issued unqualified auditor's report with paragraph of emphasized matters for the
Company's financial statements for 2010 Basic information of emphasized matters: Since March 2007, Shenzhen Victor Onward
Textile Industrial Co., Ltd. stopped production and dismissed most of workers. And most subsidiaries of the company had stopped



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                                                                  深圳中冠纺织印染股份有限公司 2011 年第一季度季度报告全文


production and it maintained daily operation by house leasing. Shenzhen Victor Onward Textile Industrial Co., Ltd. had disclosed its
improvement measures in Note 13 of Financial Statement, but its sustainable operation ability is still uncertain. This paragraph does
not affect audit opinions that have been given.
(II) Basic opinions of certified public accountants on such matter:
    Shine Wing Certified Public Accountants accepted entrustment, completed the audit of the financial statements of the Company for
2009 and issued unqualified auditor's report with paragraph of emphasized matters for the Company's financial statements for 2010. In
accordance with No. 14 Rule for Preparation and Report of Information Disclosure by Companies Publicly Issuing Securities -
Non-standard Unqualified Audit Opinions and Treatment of Matters Involved Therein, relevant notes are as follows:

As noticed by Shine Wing Certified Public Accountants during audit, Since March 2007, Shenzhen Victor Onward
Textile Industrial Co., Ltd. stopped production and dismissed most of workers. The company currently only had
house leasing business.
Except that Shenzhen East Asia Victor Onward Textile Printing and Dyeing Co., Ltd. is still operating
normally, other 5 subsidiaries controlled by the Company have stopped operation or are maintaining
daily operation by house property lease. It plans to invest in Nanjing East Asia Textile Printing and
Dyeing Co., Ltd. with part of machinery and equipment in 2007, Due to the reason on the side of the
other party of joint venture and change of industry prospect. we believe that the sustainable operation
ability of Shenzhen Victor Onward Textile Industrial Co., Ltd. is still uncertain, so I emphasized the
situation in the audit reports and issued unqualified auditor's report with paragraph of emphasized
matters. The matters involved in highlighted statement did not apparently violate Accounting
Standards for Business Enterprises and regulations on relevant information disclosure
standardization.
This special statement is issued by us according to relevant regulations of CSRC and shall not be used for other purpose. We and the
C.P.A. who performed this service shall not bear any liability for the consequences caused by its improper use.

The opinions of the board of directors, supervisory committee and management of the Company on
this matter:
The board of directors, Supervisory Committee and managers believed that the printing and dyeing
plant of the company had stopped operation or maintained daily operation by house leasing. Due to the
reason on the side of the change of industry prospect, Capital Increasing of the joint venture project had not been completed.


  (III) Extent of influence of this matter on the Company:
      This event greatly impacted the production & operation activities and sustainable development of
company, it made company had the situation of implementing other special treatment which was
stipulated in Shenzhen Stock Exchange Listing Rules , the stock of our company had been
implemented for other special treatment.
(IV) The possibility of eliminating this matter and its influence:
Though the transfer of printing and dyeing business has been somewhat delayed, The board of
directors of company is positively studying the future development of company to enhance company's
sustainable operating ability.
(V)The specific measures
Company is communicating with joint venture partner and trying to minimize the losses and settle
this joint venture project issue properly.
II. The special statement of the Supervisory Committee of the Company on the matters involved in the Unqualified Auditor's Report
for 2010 with Highlighted Paragraphs
Shine Wing Certified Public Accountants issued unqualified auditor's report with highlighted paragraphs for the financial statements of



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                                                                  深圳中冠纺织印染股份有限公司 2011 年第一季度季度报告全文


Shenzhen Victor Onward Textile Industrial Co., Ltd. for 2010. Therefore, the board of directors of the Company made a special
statement on the matters involved in the Unqualified Auditor's Report of the Company for 2010 with Highlighted Paragraphs. The
supervisory committee of the Company held the opinion that this statement matched its actual conditions and agreed to opinions of the
board of directors of the Company.



3.2.2 The Company provided funds to its controlling shareholder or related parties and provided guarantees in
violation of established procedures.

□applicable √ not applicable

3.2.3 Signing and performance of significant contracts for daily operation

□applicable √ not applicable

3.2.4 Other

√applicable □not applicable

Since March 2007, Shenzhen Victor Onward Textile Industrial Co., Ltd. stopped production and
dismissed most of workers. The company currently only had some house leasing business.

5 subsidiaries controlled by the company had stopped the operation and were depending on house
lease to maintain. In 2007 the company intended to invest part of machineries and equipments to
Nanjing East Asia Textile Printing & Dyeing Co., Ltd. But due to the reasons of the joint venture party
and the prospect change in the industry, the investment plan was delayed.
The Company is communicating with joint venture partner and trying to minimize the losses and settle this joint
venture project issue properly.


3.3 The fulfillment of the commitment made by the Company , shareholders and the actual controller

Commitments made by the listed company and its directors, supervisors, senior executives, the shareholders with
holding above 5% shares and its actual controller in the report period, or lasting until the report period.
□applicable √ not applicable

3.4 Estimation of accumulative net profit from the beginning of the year to the end of next report period to be loss
 probably or the warning of its material change compared with the corresponding period of the last year and
 explanation of reason.

√Applicable   □ Not applicable


Forenotice of earnings          Losses
                                 Year beginning to end of next      Same period of the
                                                                                                    Increase or decrease%
                                         report period                previous year
Estimated amount of
accumulative net                     -800.00 --         -600.00                   541.00 --                          --
profit(RMB’0000)
Basic earnings per shares
                                         -0.05 --         -0.04                     0.03 --                          --
(Yuan/share)
                                   Due to Equity method of Zhejiang Union Hangzhou Bay Ventures Co., Ltd. accounted for earnings
Notes to forenotice of earnings losses, the accumulative net profit for the period from January 2011 to June 2011 is estimated to be
                                about RMB 6 million to RMB 8 million.



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3.5 Major events needs to be explained

3.5.1 Investment in securities

√applicable       □not applicable

                                                                                                                              Unit:RMB
                                                                                                    Percentage of
                                                               Initial                                   total
                                                                          Holding    Book values at                 Profit and loss
                                                  Stock      investment                             investment in
     No        Stock type       Stock code                              quantity(Shar the end of                   during the report
                                               abbreviation amount(Yuan                              this stock at
                                                                             e)      period(RMB)                    period(RMB)
                                                                  )                                   the end or
                                                                                                      period(%)
                                             Tianli
      1    Bonds              300156                              28,900.00                  0         0.00           0.00%       4,625.00
                                             Environmental
                                             LANDOCEA
      2    Stock              300157                              28,403.00                  0         0.00           0.00%       5,215.00
                                             N
      3    Stock              2537           Haili Metal          19,932.00                  0         0.00           0.00%             19.00
      4    Stock              601558         Winovel Wind               0.00             1,000    89,852.00       57.33%              -148.00
      5    Stock              002563         Semir Garment              0.00             1,000    66,889.00       42.67%              -111.00
    Other securities investment held at the end of the period           0.00         -                 0.00           0.00%              0.00
Gain and loss from investment in securities already sold
                                                                    -                -             -              -               4,630.00
                  in the report period
                             Total                                77,235.00          -           156,741.00           100%       14,230.00
Explanation Investment in securities :
.


3.5.2 Reception of investigations , communications , or interviews

                                                                                                         Discussion issue and offered
       Reception                Place                      Mode                       Object
                                                                                                                 information
                       Office of board secretary                               Individual           The Company’s shares status.公司参股
January 27,2011                                  Telephone
                       of the Company                                          shareholder          公司情况
                       Office of board secretary                               Individual
March 10,2011                                    Telephone                                          The Company’s operating status
                       of the Company                                          shareholder


3.6 Derivative Investment

□applicable √ not applicable


3.6.1 Particulars about derivatives investment held at the end of report period

□applicable √ not applicable


§4 Appendix

4.1 Balance sheet

Prepared by:Shenzhen Victor Onward Textile Industrial Co., Ltd.                                 March31, 2011 Unit:RMB

                   Items                               Year-end balance                                 Year-beginning balance




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                               Consolidated        Parent company       Consolidated         Parent company
Current asset:
  Monetary fund                    52,132,261.00        23,137,714.00        51,786,613.00        23,577,186.00
  Settlement provision
Outgoing call loan
Trading financial assets             156,741.00            156,741.00            77,235.00           77,235.00
Bill receivable
Account receivable                  1,160,013.00                                586,576.00
Prepayments                           32,493.00                                  23,225.00
  Insurance receivable
 Reinsurance receivable
  Provisions of Reinsurance
contracts receivable
  Interest receivable                 20,549.00                                   6,646.00
  Dividend receivable
  Other account receivable           351,443.00         75,043,092.00           175,951.00        75,638,428.00
  Repurchasing of financial
assets
  Inventories                        425,245.00            425,245.00           429,613.00          429,612.00
  Non-current asset due in 1
year
  Other current asset
Total of current assets            54,278,745.00        98,762,792.00        53,085,859.00        99,722,461.00

Non-current assets:
Loans and payment on
other’s behalf disbursed
  Disposable financial asset         669,083.00                                 874,427.00
Expired investment in
possess
  Long-term receivable
  Long term share equity
                                   72,300,494.00        38,220,668.00        77,199,476.00        38,613,199.00
investment
  Property investment              38,396,101.00         5,870,716.00        39,679,004.00         6,019,483.00
  Fixed assets                     17,260,019.00        14,166,966.00        17,492,132.00        14,313,935.00
 Construction in progress
Engineering material
  Fixed asset disposal
 Production physical assets
 Gas & petrol
  Intangible assets                 2,014,908.00         2,014,908.00         2,049,023.00         2,049,023.00
  R & D petrol
  Goodwill                          5,298,086.00                              5,352,498.00
  Long-germ expenses to be



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                                                 深圳中冠纺织印染股份有限公司 2011 年第一季度季度报告全文



amortized
  Differed income tax asset
  Other non-current asset
Total of non-current assets     135,938,691.00       60,273,258.00       142,646,560.00        60,995,640.00
Total of assets                 190,217,436.00      159,036,050.00       195,732,419.00       160,718,101.00
Current liabilities
  Short-term loans
  Loan from Central Bank
 Deposit received and hold
for others
  Call loan received
   Trade off financial
liabilities
 Bill payable
 Account payable                  3,336,214.00          114,864.00         3,353,297.00           115,281.00
  Advance account received        2,763,482.00        1,985,646.00         2,718,175.00         1,939,819.00
 Selling of repurchased
financial assets
  Fees and commissions
receivable
  Employees’ wage payable         653,478.00           613,025.00           620,363.00           579,911.00
  Tax payable                     3,243,595.00        1,777,662.00         2,914,867.00         1,723,217.00
  Interest payable
  Dividend payable
  Other account payable          29,939,116.00          619,560.00        29,974,945.00          651,133.00
  Reinsurance fee payable
  Insurance contract
provision
  Entrusted trading of
securities
  Entrusted selling of
securities
 Non-current liability due in
1 year
  Other current liability         2,587,993.00        1,270,169.00         2,504,404.00         1,185,618.00
Total of current liability       42,523,878.00        6,380,926.00        42,086,051.00         6,194,979.00

Non-current liabilities:
  Long-term loan                  1,303,590.00                             1,350,126.00
     Bond payable
  Long-term payable               8,817,142.00                             8,907,695.00
  Special payable                  869,358.00           869,358.00           878,286.00          878,286.00
Expected liabilities
Differed income tax liability      883,286.00         4,169,104.00           892,357.00         4,211,921.00
  Other non-current



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                                                           深圳中冠纺织印染股份有限公司 2011 年第一季度季度报告全文



liabilities
Total of non-current
                                         11,873,376.00             5,038,462.00       12,028,464.00             5,090,207.00
liabilities
Total of liability                       54,397,254.00            11,419,388.00       54,114,515.00            11,285,186.00
Owners’ equity
Share capital                           169,142,356.00           169,142,356.00      169,142,356.00           169,142,356.00
Capital reserves                         39,100,649.00            31,606,598.00       39,872,534.00            31,606,598.00

Less:Shares in stock
 Special Reserve
  Surplus reserves                       26,704,791.00            26,309,287.00       26,704,791.00            26,309,287.00
     Common risk provision
     Undistributed profit               -102,808,880.00          -80,436,455.00       -98,665,017.00          -80,137,758.00
  Different of foreign currency
                                           5,005,752.00             994,876.00         5,874,835.00             2,512,432.00
translation
Total of owner’s equity belong to
                                        137,144,668.00           147,616,662.00      142,929,499.00           149,432,915.00
the parent company
Minor shareholders’ equity               -1,324,486.00                                -1,311,595.00
Total of owners’ equity                135,820,182.00           147,616,662.00      141,617,904.00           149,432,915.00
Total of liabilities and owners’
                                        190,217,436.00           159,036,050.00      195,732,419.00           160,718,101.00
equity


4.2 Profit statement

Prepared by:Shenzhen Victor Onward Textile Industrial Co., Ltd.                  January-March 2011 Unit:RMB

                                                 Report period                       Same period of the previous year
                 Items
                                     Consolidated         Parent company          Consolidated         Parent company
I.Total operating income                   3,169,625.00             375,059.00         1,924,354.00               182,867.00
Including:Operating income                3,169,625.00             375,059.00         1,924,354.00               182,867.00
              Interest income
          Insurance gained
  Commission charge and
commission income
II.Total operating cost                    3,213,682.00             687,986.00         3,539,513.00               537,997.00
Including:Operating cost                  1,761,091.00             120,656.00         1,625,230.00              -407,845.00
          Interest expense
   Commission chare and
commission expense
        Cash surrender value
Net amount of expense of
compensation
Net amount of withdrawal of
insurance contract reserve
   Bonus expense of guarantee
slip
Reinsurance expense
      Operating tax and extras                                                               857.00
        Sales expenses                                                                   244,011.00



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                                                               深圳中冠纺织印染股份有限公司 2011 年第一季度季度报告全文



           Administration
                                              1,695,091.00            1,285,098.00              1,973,276.00            1,560,553.00
expenses
      Financial expenses                       -242,500.00             -717,768.00               -303,861.00             -614,711.00
Losses of devaluation of assets
 Add :Changing income of fair
                                                                                                   -3,502.00
value
      Investment income                      -4,121,163.00               14,230.00             -1,924,817.00               78,084.00
  Including:Investment income
on affiliate company and joint
venture
    Exchange income
III. Operating profit                        -4,165,220.00             -298,697.00             -3,543,478.00             -277,046.00
  Add :Non-operating income                      8,466.00
     Less:Non-operating expense                                                                       60.00
   Including :Disposal loss of
non-current assets
IV. Total profit                             -4,156,754.00             -298,697.00             -3,543,538.00             -277,046.00
Less:Income tax
V. Net profit                                -4,156,754.00             -298,697.00             -3,543,538.00             -277,046.00
  Net profit attributable to
                                             -4,143,863.00             -298,697.00             -3,524,663.00             -277,046.00
owner’s equity of parent company
 Minority shareholders’ gains and
                                                -12,891.00                                        -18,875.00
losses
VI. Earnings per share
  (i)Basic earnings per share                      -0.02                                             -0.02
  (ii)Diluted earnings per share                   -0.02                                             -0.02
VII. Other comprehensive income                       0.00                     0.00                        0.00                 0.00
VIII. Total comprehensive income             -4,156,754.00             -298,697.00             -3,543,538.00             -277,046.00
Total comprehensive income
attributable to the owner of the             -4,156,754.00             -298,697.00             -3,543,538.00             -277,046.00
parent company
 Total comprehensive income
                                                      0.00                     0.00                        0.00                 0.00
attributable minority shareholders
For the enterprises under the same control consolidated in the report period, the net profit realized by the consolidate before the
consolidation is RMB 0.00.


4.3 Cash flow statement

Prepared by:Shenzhen Victor Onward Textile Industrial Co., Ltd.                      January-March 2011          Unit:RMB
                                                    Report period                            Same period of the previous year
                Items
                                      Consolidated           Parent company              Consolidated             Parent company
I.Cash flows from operating
activities
    Cash received from sales of
                                              2,594,850.00              375,059.00              3,890,104.00            2,308,306.00
goods or rending of services
  Net increase of customer
deposits and capital kept for
brother company
    Net increase of loans
from central bank



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                                               深圳中冠纺织印染股份有限公司 2011 年第一季度季度报告全文



   Net increase of inter-bank
loans from other financial
bodies
 Cash received against
original insurance contract
   Net cash received from
reinsurance business
  Net increase of client
deposit and investment
 Net increase of trade
                                                                           171,819.00          171,819.00
financial asset disposal
 Cash received as interest,
processing fee and
commission
     Net increase of
inter-bank fund received
   Net increase of
repurchasing business
       Tax returned                                                        175,182.00          106,115.00
  Other cash received from
                                 293,149.00           395,788.00           414,364.00          111,121.00
business operation
    Sub-total of cash inflow    2,887,999.00          770,847.00         4,651,469.00         2,697,361.00
  Cash paid for purchasing
                                 226,666.00           226,666.00         2,051,814.00         1,051,700.00
of merchandise and services
 Net increase of client trade
and advance
   Net increase of savings
central bank and brother
company
   Cash paid for original
contract claim
   Cash paid for interest,
processing fee and
commission
 Cash paid for policy
dividend
     Cash paid to staffs or
                                 786,000.00           447,063.00           986,618.00          565,612.00
paid for staffs
 Taxes paid                      330,068.00           161,475.00           424,991.00          165,731.00
  Other cash paid for
                                 873,583.00           373,982.00         1,827,137.00         1,061,133.00
business activities
      Sub-total of cash
outflow from business           2,216,317.00        1,209,186.00         5,290,560.00         2,844,176.00
activities
 Cash flow generated by
                                 671,682.00          -438,339.00          -639,091.00         -146,815.00
business operation, net
II.Cash flow generated by
investing




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                                               深圳中冠纺织印染股份有限公司 2011 年第一季度季度报告全文



Cash received from
investment retrieving
    Cash received as
investment gains
 Net cash retrieved from
disposal of fixed assets,
intangible assets, and other
long-term assets
 Net cash received from
disposal of subsidiaries or
other operational units
  Other investment-related
cash received
   Sub-total of cash inflow
due to investment activities
Cash paid for construction of
fixed assets, intangible assets   32,981.00                                 96,282.00           56,658.00
and other long-term assets
    Cash paid as investment
  Net increase of loan
against pledge
   Net cash received from
subsidiaries and other
operational units
  Other cash paid for
investment activities
      Sub-total of cash
outflow due to investment         32,981.00                                 96,282.00           56,658.00
activities
    Net cash flow generated
                                  -32,981.00                               -96,282.00           -56,658.00
by investment
   III.Cash flow generated by
financing
 Cash received as investment
   Incl: Cash received as
investment from minor
shareholders
   Cash received as loans
  Cash received from bond
placing
       Other financing
–related ash received
   Sub-total of cash inflow
from financing activities
    Cash to repay debts
  Cash paid as dividend,
profit, or interests
Incl: Dividend and profit
paid by subsidiaries to minor


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                                                   深圳中冠纺织印染股份有限公司 2011 年第一季度季度报告全文



shareholders
   Other cash paid for
financing activities
 Sub-total of cash outflow
due to financing activities
 Net cash flow generated by
financing
IV.Influence of exchange rate
alternation on cash and cash         -293,053.00           -1,133.00           -47,028.00            -2,157.00
equivalents
V.Net increase of cash and
                                     345,648.00          -439,472.00          -782,401.00          -205,630.00
cash equivalents
  Add: balance of cash and
cash equivalents at the            51,786,613.00       23,577,186.00        56,105,626.00        24,960,502.00
beginning of term
VI .Balance of cash and cash
                                   52,132,261.00       23,137,714.00        55,323,225.00        24,754,872.00
equivalents at the end of term

4.4 Auditor’ report

Auditor’s opinions: Not audited




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